As reported over on the Journalism.co.uk main site, leading industry figures shared their hopes for the magazine market at the FIPP World Magazine Congress 2009 this morning.
But they were hopes in the context of an economic downturn. William Kerr, chairman of board for the Meredith Group joked that ‘being 12 per cent down is the new up’.
Each of the panel looking at ‘riding the storm’ shared their fears for the magazine industry:
- Carolyn McCall, chief executive, Guardian Media Group: is worried that the industry would ‘not make structural change quickly enough’.
- William Kerr said that his main fear was that the ‘best and brightest [candidates] had migrated to other areas’ for employment.
- Aroon Purie, editor-in-chief and chairman of the India Today Group said he was worried about the ‘magazinification’ of newspapers in terms of content and design: it is a ‘threat to magazines, as newspapers go in that direction,’ he said.
- John Smith, chief executive of BBC Worldwide, said his main concern was the dominance of Google as an online sign-post. it was a ‘dangerous’ situation he said, to have all the power in one company. Google’s 63.7 per cent grasp on search traffic made it necessary for other companies to enter the territory, he said.